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in a way@ that does not expose the economy to rest in does not require a taxpayer bailout. i think that the tools are in place to do that. again, it is a matter of using those tools. there are couple of things that the regulators need to do. they need to have these banks to restructure themselves to make them simpler so that they are easier to break up. as a work in progress. they also need to force them to issue more long-term unsecured debt that would be available for lots -- loss absorption of four of them fails. the starter capitol requirements but we also need minimums for long-term debt as well. and that would make them more resolvable and also, level the playing field between the cost and the smaller institutions. melissa: people walk around now and say to big to fail is alive and well. nothing has really changed. to you agree? >> i think we are making progress. the rating agencies have downgraded some what the mega banks. they still get cheap funding when the go to the market. much cheaper than the smaller banks. we have made progress. my former agency has come forth with s
the negativity out there i believe optimism is in the air. the stock market record highs, the economy is picking up, president obama in a charm offensive because his polls are way down. in fact he's now talking corporate tax reform. even pushing democrats on entitlement reform or so he says. now i know, i know, my favorite president reagan trust by verify, but i think there's some optimism out there and i'm going to do my best now to persuade my pal, conservative superstar ann coulter. she's the author on set for the full hour. jimmy williams. and michelle caruso-cabrera. ann coulter, i know you think i'm nuts but i'm telling you the stock market is a great signal. the republicans won on the sequester. obama's poll are down so now he's having to come to the negotiation table. i like this story. i want to be optimistic about this story. >> um, i want to be optimistic too. but i want to be realist jig. all,000 are the financial maven and i would normally defer to you, that's the only thing i'm pessimistic about. i think the economy -- i would not count on the stock market continuing to go up. i kn
tryg to time thearke gyrations. >> overall you think the stronger than expected economy is what is going to power the market to higher levels, to that 1700 that you see in the s&p 500. but which specific sectors of the market do you think will lead the way? >> well, i like most of the cyclicals better than the defensive stocks, tyler. i think as the market keeps going higher, more and more people are underallocated to economic sensitivity. so i really like the manufacturing stocks, the industrials, and the basic materials. i think the financial stocks ve done well and wil coinue to dwe. an i would look at trying to put a little bit into technology stocks that have been really bad for the last year. i think i'm seeing confidence in ceos rise and capital spending going up, and i think that sector could come to life yet in the second half of this year. >> jim, as you know, federal reserve policymakers are meeting on tuesday. do you -- nobody is really expecting any significant change in policy. but do you expect any change in tone and conversation? and how might that impact investo
boost to jobs and the economy. doug joins us to break it all down. >>> plus the government dumps key crop reports this year all thanks to the sequester. that means pricing chaos for milk and other products. a top commodities trader tells us how bad it could get for you. >>> the dirty secret for electric cars. they are supposed to save us money and save the earth but they're more expensive than you think. one of "time" magazine's most influential people in the world is here to explain exclusively why. even when they say it's not, it is always about money melissa: so we've got to start with today's market moment. we keep breaking record. get this, it is getting ridiculous. u.s. jobless claims fell unexpectedly give investors a fresh dose of optimism about the economy. the dow closed at a record high for the 8th straight day. it has posted gains for ten straight sessions. the dow is on the its longest winning streak since 1996. the nasdaq also hit a new 12-year high. the s&p 500 is now less than two points away from hitting it all-time highs. >>> our top story tonight, the rapidly balan
, think of the deficit as a stimulus to the economy. neil: a stimulus to the economy. he has always been that way. it pays to focus on what bill gates and doing now, he is on a spending mission, he leaves little doubt about what he thinks of republican mission and their drive to cool it on the spending without thinking about results, his biggest fear, congress cutting foreign aid. the man said that foreign raid does a lot of good for the planet. to gauge the more good than bad without a doubt, that is why the guy, he was in washington today pushing hard. urging freshmen lawmakers not to give up the fight or spending on those 2 need the help -- who need the help the most, tonight. decide whether a man can or should stop congress from closing some spending doors, perhaps of all of the interviews i've done with bill gates over the years from earliest days at microsoft or before he became the power house to keeping his juggernaut going once it was a power house to going full time in charity business, this day is for me the most meaningful and consequential, not because of anything i asked of
, and that's a sure sign that the overall economy is doing the same, though it still has a long way to go. in fact, more homes could be sold this spring than in years. earl lee is president of prudential real estate affiliates. mr. lee, i know your company has done a little survey about all this. what did you find? > > one of the things we found was that home ownership is still a very important part of the american dream. in fact, 96% of our respondents replied it is a very essential part of what they are looking for in their lives. i think one of the reasons why that is really important is i think if we go back several years, there was a lot of information out there that we were going to become a nation of renters. and that obviously is not true based on our survey. > people certainly want to buy but economically, is buying a home still affordable? i know interest rates are down and so are home prices, but a lot of people aren't making as much money as they used to. > > that is true. i would say to you it depends on which sector. it also says that all real estate is local. clearly in m
and the new fed forecast for the economy. and the stocks we're focused on this morning, blackberry getting an upgrade at morgan stanley and a note titled why it won't go down and it gets into the best buy bull camp, and calling it the best near-term idea in the sector. let's get straight to fedex. the package delivery company says it earned $1.23 a share in the fiscal third quarter and below wall street forecasts. fedex says the customers were choosing slower transit services. this does happen, of course, after a massive run in the transports. >> one of the things that amazes me about fedex is they keep missing and they get loved a few days later. missed and gets loved. it's still regarded as being a profit machine. they have this restructuring that people like very much. people feel it's only a matter of time before someone steps up to the more expensive freight. to me, my charitable trust owns ups. ups has the expectations lower. scott davis always says negative things. >> melissa hit the nail on the head. the stock had a big run and the two guys were going head to head over what was in
chosen a woman to be head of the national bank. she served as economy minister from 2008 to 2009 and the first female central banker for a g-8 country. she'll take over from an inflation fighter. it should happen in june. the appointment raised questions about the central bank's independence and concerns kremlin will push for looser policy. we want to know what you think of the measure. is it a significant one for females, for the g-8 or for russia's monetary policy. send us your thoughts here. if you are just joining us, these are your headlines. italy prepares to test bond markets with its first long-term auction since a rating downgrade from fitch. spanish retail giant sees shares dip despite reporting solid profits and senate democrats tee up to reveal their own budget plan. straight ahead on the program, can the dow close at a high for a record ninth day? we'll preview the u.s. trading session when we come back. stay here. today is gonna be an important day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how b
insolvent. the banks in cyprus are huge, eight times the size of the economy. consider that here in the united states. our banking system is roughly one-time the size of our economy. what we're waiting to see next are they going to get this through parliament and get it done? it is so controversial they're trying to find out different ways to make it less controversial. impose the tax on larger shareholders to a much greater degree. it was originally 9.9% and you go to 12%. if you didn't want to tax the small guys at all you'd have to go to 15% or 16%. this is the scene when the president walked into the palace headquarters. there were people there with no written on their hand and this says merkel stole our money. keep in mind, european union will still give them 10 billion euros and they were trying to come up to reduce the original size from 17 billion euros. the other thing to keep in mind, by taxing depositors they're taxing a lot of foreigners and a lot of russians who had kept their money. the thing is will the rest of europe, will small depositors across the rest of europ
of balance. my goal is how do we grow the economy, but america back to work? >> america doesn't really have a budget right now, it has a continual resolution, which is an extension of an earlier budget. that expires on march 27th. if government goes beyond that without a patch, they could shut down. we're supposed to have an actual budget resolution voted on and in place by april 15th, but we're way behind on that. on may 18th, we're set to hit the debt ceiling. some say that could be the showdown. i want to bring in nancy, with the "new york times." andy, let's start with you. both sides put budgets out. everybody knows that neither of these budgets are going anywhere. what happens next? >> so, essentially, we're going to go through the same sort of continuing resolution process that you have seen over the last couple years. as you pointed out these budgets are political documents. they'll probably both pass their respective houses, but there's almost no way to bridge the gap between them and they're very vague documents. again, these are kind of political postures, then we're going to go
a balanced budget just for the sake of balance. my goal is how do we grow the economy, put people back to work. >> america doesn't really have a budget right now. it has a continuing resolution, which is an extension of an earlier budget. that continuing resolution expires on march 27th. if congress goes beyond that without at least a patch, the government could shut down. by law, we're supposed to have an actual budget resolution voted on and in place by april 15th. but as i said, we are way behind on that. and then on may 18th, we're set to hit the debt ceiling. some say that's going to be the real showdown. annie lowry is the economic policy reporter with "the new york times." nancy cook is the economic and fiscal correspondent for the "national journal." annie, both sides put budgets out. everybody knows neither one is going anywhere. what happens next? >> eventually we'll go through the same sort of continuing resolution process you've seen in the last couple years. the budgets are political documents. they'll probably both pass their respective houses but there's almost no way to
and the austerity he is putting in place has caused the economy to be really slow. >> a lot of tax increases over there in europe. we look at this austerity bit. i want to talk about this for a second. >> i want to get back to the budget then. >> talk about what is happening in washington. you know, economics discussed on tv or on the internet or on twitter, it's so depressing, because people really don't know what they are talking about and they just sort of boil it down and there is this belief through the years, that tax cuts are not a tool used. of course, tax cuts are a tool used and tax increases something that traditional are against in bad times. we hear about austerity across great britain and we never hear about the tax increases. when you talk about the fact they cut and slash spending at the same time they hike taxes, it really was a formula made to fail. >> spending cuts and tax increases both take money out of the economy and slow the economy and, yes, they create this idea of austerity. but, look. it's a balancing problem. on the one hand you need to deal with it budgets and defici
is normal banking business. there is enough money to keep the economy moving forward, but these are very, very difficult days. tomorrow, the banks will be closed again, and quite possibly on friday, too. >> thank you. we are bringing you all of the latest developments from cyprus as they search for a solution there. police have searched the home of kristie in the guard. ofkhristine lasard, the head the international monetary fund. the operator of japan pose the damaged nuclear power plant in fukushima said iraq had been responsible for a loss of power this week. -- said a rat has been responsible for a loss of power this week. a dead rat was found near a switchboard. the company is investigating whether the raft was the cause. that it has killed a french national captured in mali in 2011. it claims it executed the man in retaliation for france's intervention in mali. the french foreign ministry said it is trying to verify those claims. the first test- tube baby was born in the u.k., the country could be leading the way again. this time it is a new idf procedure that creates a baby with t
of the economy that are not that strong and i don't know what the sequester will bring in the month of april. >> look, the data say things are better, and i think the fed will be under a lot of pressure because interest rates are headed higher. >> at some point the fed will have to acknowledge that -- and they have -- to your point, they changed the language a little bit. it's a moderate recovery and it's a strengthening recovery. words like that. >> right. >> at some point they're going to have to acknowledge what we all seem to know which is -- they're not great, but things are getting better. now will inflation pick up and that, of course, is the fed's number one mandate. will inflation pick up until we see jobs pick up because wage inflation comes with excess demand from workers. i don't know. that's the big trillion dollar question mark. >> commodity inflation whether it be corn or copper and the strong dollar will contain inflation that's going up a great deal. housing is stabilizing and not really in the numbers. i want to take issue with some of what you said. i think we all think th
's less impinging on the economy. you keep hearing the economy is ready to take off. if we can get the government out of the way for a couple years we can get some really nice growth and that will change things up and i think they are sceeding in denuclearizing our conflicts. no fiscal cliffs, no debt defaults. let the economy grow for a change. >> woodruff: what are you hearing. >> the government has to get out of the way, i love that. that's a great one after what we've been through in this country with absolutely no control. and we just learned again this week that the bank's too big to fail, too big to be reprimanded, controlled by the federal government. but i'd say this, judy. there's an old line in politics you dance with the girl who -- barack obama didn't do that. for the past seven years he's gone into hundreds if not thousands of rooms, people with large egos, people with great accomplishments, people who are great skeptical toward him and he went in and he charmed them to the point not only they supported him they wrote checks for him. he comes to washington and that s
for this mess. no more taxes. we cannot take it in a bad economy. who knows what corn to happen in budgetary fluctuations between today and 10 years from today? entitlements is a very nasty way of saying we have to take something you ever earned and take it back because we cannot decide what to do with your money in the first place. i think the president is wrong. i am a democrat, but i don't support his ideas. tax-and-spend, tax-and-spend. the ryan budget is thdoa. this is too much, too late. who knows what is going to happen between today and 10 years from today? hopefully, i will be alive to get what i earned. i would rather be in my > to continue seeing this misery that the u.s. congress and this president and his health care act needs to be a pair back. it's not going to work. host: david on our independent line from mclean, virginia. caller: i have some questions. it's your guests along the line? host: we're just taking calls right now. our first guest is about a half- hour. caller: one, we would like to get clarification on the senate's passing the budget through an act of reconciliat
understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> welcome back to squawk this morning. the dow has reached a ninth straight up session. is the market due for a correction? we've been talking about that for a long time. let's start that discussion. we have a couple of people joining us. gene peroni, senior vice president and portfolio manager at advisers asset management. we have joe kinehan. and on set, david pearson, senior vice president and chief economist at nationwide insurance. do we think a correction is coming? >> you know, there are corrections all the time. as long as the fed keeps monetary policy with pedal to the metal expansion and the economy is growing, then the trend in the stock market should be up. >> i'm going to go to santoli. do you think a correction is coming? >> i thought the ingredients we
production and find out how much capacity to utilize in march. speaking of the markets and the economy, our own steve liesman caught up with new treasury secretary jack lew yet. among the topics discussed, whether there is a reason to worry about a bubble right now. >> the analysis i've seen doesn't give me reason to be worried right now. i think one of the lessons we learned from 2008, 2009 is that even when things are not a problem, we always have to ask those questions. we need to make sure that our -- we have the transparency to see what's going on in firms, in markets. we need to have the regulatory tools to deal with problems as they develop. >> and we're going to talk more about the markets and questions about a potential bubble later on this morning. we've got a great guest lineup today, guys. named money manager bill miller of legg mason and former fed chairman alan greenspan. we're going to find out if he sees any similarities between today's environment and the situation back in 1996. the last time we had this kind of run when he gave his now famous irrational exuberance speech.
can be the linchpin in our economy over here. it's ridiculous. >> right. it should be a smaller problem. they could take care of this in other ways. they could print money or -- >> i'm not going to pick a state here. it would probably be a southern state, but a poor southern state cannot take the down the united states. >> a western state because they're not awake yet. but here we are. out of the 22 -- cyprus? >> you thought greece was small, cyprus is -- >> come on, cypriots? i remember some conflicts. i thought it was a golf course, which would be a much bigger problem to me. >> let's introduce our guest host this morning, kenny dichter, co-founder of avian. why do i always mispronounce it? because you've been b drinking it. >> avione is airplane in french and spanish. >> can we get a full shot of this? he's now the chairman of juicepress. i have been drinking this stuff for the past week, virtually, five days. >> and you know what? your skin tone has never looked better. >> no food up until this saturday. you've been doing this now -- >> 22 days. >> i've made my cleanse zero
. manufacturer are expected to relocate sites to newly emerging economies. they want to take advantage of lower costs. analysts say if the figure continues to drop, it will affect regional economies in japan as well as employment. >>> elderly japanese suffering from dementia could soon be using the latest technology to help them lead more fulfilling lives. the research institute of the national rehabilitation center for persons with disabilities organized an event to display their newest equipment. about 100 people attended, including family members and helpers who look after people with dementia. a pill case reminds users to take their medicine and even prevents accidental overdoses. the case is fitted with an alarm and dispenses the correct amount of medicine. researchers said 19 elderly people who forgot to take pills more than once a week tried using the case. after three months, 14 of them found it helpful. other equipment included a transmitter attached to purses or keys. when a remote control button is pushed the equipment emits a sound to help the user locate the eye tim. an electronic
. find out how this publicly-traded company grows even in the face of a weak economy. david: let's look what drove the markets today with today's data download. stocks pulling back with all three major indices closing lower. the dow snapped its longest winning streak since 1996 falling in into the red after ten straight days of gains. dow, s&p, nasdaq all ending higher for the week. utilities and financials were the week's top performing sectors, while telecom, consumer staples lagged a bit. consumer prices rising at its fastest pace in nearly four years in february, jumping .7%. the jump was fueled by a 9% surge in gasoline prices. so it was limited primarily in that one area. a 5.4% climb in energy prices overall. >>> preliminary reading showed consumer sentiment tumbled in early march to the lowest level in a year as americans face uncertainty over federal spending cuts. the index dropped to 71.8 level this month, far below february's reading of 77.6. economists forecasts of 78, sandra. sandra: we've got mark sebastian in the pits of the cme group in chicago. our market panel. john b
. this is what he says. we are now in a position where the economy is not growing in the way it had been expected. and he goes on, we don't want to be japan with a decade of no growth. mr. speaker, when his own business secretary calls for them to change course, is he speaking for the government? >> let me tell him what is happening in the industrial production. we are now producing more motorcars in this country than we have at any time in our history. exports to all the key markets in terms of goods like india, china, russia, brazil are all increasing very rapidly. none of things things happen on a labour government in the trash our economy, racked up the debt and nearly bankrupted the courage. when it comes to capital spending i think we should spend more money on capital and that's why we're spending 10 billion more than the plans of the government of which he is a member. i think we should be using the strength of the government balance sheets to encourage private-sector capital, and that's why for the first time in its history the treasure is providing those guarantees. the fact is he read
a crazy for years with the economy. we went to the financial crisis and the deficit kind of blew out. i think that democrats are finally trying to get back in regular order in the senate. max baucus is an interesting figure. they can do any tax changes or it entitlement changes that went through the committee. so he is sitting back and waiting for the issues to come to him. he has already had tax reform hearings. so he is one that will watch this move forward. >> democrats need only 51 votes to pass the budget outline. no doubt it will, but we can't wait to see which senators get lined up as potential sacrifices. the senators running in 2014, mary landrieu, mark begich of alaska, they might get a pass from harry reid. >> that is right. they control a couple of things, but we know that republicans are struggling with the same issue. the president is trying to give someone public and senators to work in a bipartisan way. but there's a lot of consternation in the house about house republicans. going after conservatives who look at tax increases as part of a deal. there is pressure from the
in more than 212 million just in february alone. the entire economy of this city is based in gaming, 33,000 people work in the industry. here at the golden nugget atlantic city casino, they have a golden nugget. look at that. they have a hoel, cay casino, ad marina in the heart of new jersey. he from the general manager at the bottom of the hour, and i sit down with a blackjack dealer and learn for the first time how to play blackjack. i never played it in the casino before, and you'll never guess how i did. it'sot just gambling, but the biggest trends in alcohol these days, bourbon, plus, tobacco, porn, reality tv, and how your smart phone is a vice. we have a sinful hour ahea capping it off with how you at home as an investor can make money on it all. first tonight, our top story. obamacare's latest surprise is a new fee to hit employers. douglas holtz-eakin, president of the and former cbo director. great to talk to you. i was shocked to hear about the fee, $63, noody knew it was coming, $63 per employee, so for a company like boeing, that's $10 million just for the fee alone. what i
the economy is slowly getting better. if you look, this week wasn't a real robust week in terms of data, but you did have better retail sales. you had better initial claims. today, capacity utilization at five-year highs. i think that was very impressive. so i think you continue -- we're continuing to look at about 2, 2.5% gdp. and i would say that earnings in the fourth quarter were definitely better than expected. and should we actually start to see the global easing around the world start to work, maybe your up side is on the revenue line. if margins can stay -- kind of stay where they are, i think you can have revenue acceleration over time. >> i want to get your take on what we heard this morning, rick santelli. bill miller on "squawk box" this morning. listen to what he said about stocks, talking about how that impacts the whole market. >> i think there's a lot more to go. stocks are cheap relative to bonds, and they're cheap relative to sort of the absolute levels that you'd expect, even at normalized bonds. if ten-year treasuries go to 10%, we had 6% ten-year treasuries in the 1
affecting the british economy since the end of the first world war. they concluded the rational science and society. scientists have far more than any other segment of society. so sooner than most are very aware of nazi germany, beginning with the persecution and dismissal of all scientists. he was involved with many scientists during this time and finding positions for refugees in universities in america. but i think it was far less important than the brilliance, commitment, and pretty fearless. the scientists would who would be involved in this effort, including this year, physics and medicine and what they fundamentally showed is that even in something as uncertain and tradition bound as a scientific thinking it was crucial, the official history of this to the war effort as observed that there was a fundamentally romantic conception of this. even magical thinking. >> there were generals but failed to produce any operational research comparable to the allied development. if they had, they probably would have won the submarine campaign and the war. thank you very much. thank you for co
. and the federal government last year in the midst of this terrible recession, the midst of this difficult economy, added $33.9 billion in additional costs through regulatory activity that's going to take 81 million hours to complete. let's do some back of the envelope math, mr. speaker. 81 million hours. the average work year, 40 hours a week, you work 50 weeks a year, that's 2000 hours. 000 hours. that's 40,000 people. who will spend every working all of every working day year long just to meet the new federal regulatory burden. mr. speaker, i don't wonder why it is that entrepreneurial activity is the lowest it's been since we began keeping records. the wonder is that folks are still trying at all. i had someone say that to me, mr. speaker. i was visiting with a group of honor students. i represent two counties in the north metro atlanta area. we were talking about what you want to do when you grow up. we were talking about america as a land of opportunity where you can do anything you want to do. where it's our birthright to be filled with opportunities that our parents never dreamed of having
dire longworth house office building.6%, one in 15. and the economy has changed since the 1930s but unions have not. unions don't see it that way. unions see them offer a product that is perfectly fine and the only problem is employees and lawyers aren't buying it. and to reverse its decline, not to design their offerings are making in members of more relevant to the twenty-first century workers but by making the difficult for employees and employers to define their services. this is what we have seen with the national labor relations board. and in less than three weeks forcing workers to decide in as little as 18 days. and allow them to form unions for their supporters, employees who do not decide to unionize to the side of their workplace will get unionized. not just at the board level. and organizing campaigns and unions are moving more and more towards direction to pressure an employer to accept union organizing rather than persuade union employees that a union is in their best interests and that is not just me saying that. that is the words of union organizers. consider the
has shaken the world of tax havens and the multitrillion dollar economy of offshoring. cyprus, of course, a classic tax haven for the wealthy. russians invested more than $119 billion in cyprus in 2011 alone. they accounted for about a third of total dpos its. the new tax on deposits, let's call it what it is, a wealth tax, has americans worrying about other tax havens. more than $20 trillion held around the world in offshore havens. their favorite tax havens are in the caribbean. namely the cayman islands, bahamas, british virgin islands. globally the channel islands, monaco, switzerland and swing pore. caribbean countries in much better financial shape and more stable legal systems than cyprus. the capital structure of some of these offshore banks remains a mystery. governments in the tiny island nations are notoriously prone to corruption and sudden policy shift. many say cyprus isn't likely to repeat soon. the crisis is another reason offshoring may become more risky for the world's wealthy. >> thank you so much, robert frank. >>> i'll talk exclusively with john thain next
problem, because as the economy slows down, as long as the national recession lasts, it makes it harder and harder for municipal governments to balance their budget. > a lot of municipalities count on federal dollars that flow coming, and that is drying up too. so they are under stress. > > right. and that is why washington is important to everyone. it might seem like the sequestration is a problem in washington, but that money does come down to the states either through block grants or for transportation grants, and that money has to get squeezed out at the capital level, and it is going to be harder. the driver will be how long is the recession going to last, and how deep is it going to be? > if these cities you talked about and a couple of counties are basket cases, how are other cities that are having real stress problems dealing with it, because their big-budget item is what? employees. > > employees. right. so municipal government is a service enterprise, and when you have a service enterprise - police, fire, pave the roads, whatever it is - that implies employees, and when your l
. the world economy hit another speed bump today. once again they came from europe. this time in a good old fashion bank run. cbs news reporter on the tax plan that emptied out the atm's. >> there is growing anger. hundreds gathered in the streets to protest their bank accounts. they were trying to pull their money out. and that the banks will shut down at least until thursday as they are waiting for the banks to reopen. >> it is our time to draw all that money. we can't trust them anymore. yeah, it's sick. >> reporter: the secret administrators met on monday to discuss a plan. the government wants to take money from their citizens to help with the troubled financial system in the country. lawmakers are expected tvote on the package on tuesday. the proposal to take money directly from peoples accounts have never been done before. markets around the world fell up here in london, but opened up with a triple drop. >> it sort of goes with the primal fear of people that will protect their nest egg for the future. and that it will disappear. >> reporter: it is leading to their demonstrations acro
for off thor arity and a year later they're back and they're in the bond market and the economy seems to be turning around and it is the great lesson of being able to deal with tremendous adversity. irish people are much tougher than people realize all of the way back from 1847 when the british cut them off. >> take a look at colgate palmolive. you had mentioned the downgrade on valuation concerns and the stock is down 1%, but this tells an interesting tale of the markets as well where people are looking at best buy and bank of america for performance. they continue to pile into some of these stocks. >> take a look at the former cio of j.p. morgan making her way through the halls getting set to testify about the london rail losses. >> 50 interviews and 90,000 documents and essentially alleging today that the bank hid losses as far back as january 2012, and ignored multiple warnings and ignored metrics and that even jamie dimon withheld information temporarily regarding the whale loss. >> the conclusions of the committee do not read well. another reminder certainly, when you revisit th
. it's worth about a billion dollars overall to the economy, just in southern california. well we are on the subject of sex in addition to the so-called vice taxes, some states are actually putting -- imposing taxes. in illinois requiring the strip club operators to impose a $3 charge for their customers. the tax is expected to raise a million dollars annually. texas has also got eight vice tax. it is a little different. a little bigger deal in texas. $5. they are getting just about ten times as much revenue as a state of illinois. nevada, the only state in the country to allow any form of prostitution to illegally. it does not collect the tax. but if it did it will reportedly earn nearly $150 million for the state in nevada. regardless of whether not you think the taxes are good or bad public policy, there is no denying that device is generating an enormous amount of what government seems to like most, revenue. the nra proposal to keep our kids safe in school is still the best solution. the "a-team" on where are the other leaders. the billionaire mayor wants to ban guns. styr
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